The global dynamic positioning system market was valued at USD 8.49 billion in 2023 and is expected to grow from USD 9.33 billion in 2024 to USD 17.48 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.2% during the forecast period. In 2023, Asia Pacific emerged as the leading region, accounting for a dominant 37.34% share of the market.
The dynamic positioning system market is experiencing steady growth, driven by increasing demand across offshore, marine, and energy sectors. These systems play a critical role in maintaining the position and heading of vessels using advanced computer-controlled systems and sensor technologies. Market expansion is supported by rising offshore exploration activities, technological advancements, and growing investments in maritime automation. With favorable market dynamics and increasing adoption across various regions, the industry is expected to witness substantial growth over the coming years.
Fortune Business Insights presents this information in its report, "Dynamic Positioning System Market Size, Share, 2024–2032."
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/dynamic-positioning-system-market-103535
DP Control Systems Led the Market with Their Increased Adoption in New Builds and Retro Fits for Vessels
By sub-system, the dynamic positioning system market is segregated into power system, thruster system, and DP control system. DP control system led the market as it comprises a series of hardware, software, and systems that keep a vessel in position. Rising demand for DP control systems in new builds and retro fits for vessels boosting segment growth.
Position Reference Sensors Commanded the Market Owing to Their Precision in Monitoring a Ship’s Horizontal Movements